Economic researchers see Germany head toward deep recession | Eurasia Diary - ednews.net

28 May, Thursday


Economic researchers see Germany head toward deep recession

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In their latest regular report on the state of the economy, Germany's leading institutes said Wednesday the coronavirus pandemic was triggering a full-blown recession in Europe's powerhouse, EDNews.net reports citing Deutsche Welle.

The researchers agreed that gross domestic product (GDP) would dip by 4.2% this year due to the virus-induced lockdown.

The experts said economic output was likely to have shrunk by 1.9% in the first three months of the year alone, with the Federal Statistics Office (Destatis) expected to come up with a concrete figure for Q1 on May 15.

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